https://www.businessinsider.com/russian-economy-overheating-consumer-spending-tourism-central-bank-interest-rate-2024-7
Despite sweeping sanctions over its invasion of Ukraine in February 2022, Russia's economy hasn't broken down and even appears resilient, as it's now being driven by wartime state spending on military activities and subsidies.
"Consumption is booming due to a combination of massive budget spending and labor force shortages leading to strong wage pressures,"
The idea of the economy "overheating" is the dumbest shit I've ever heard
9% inflation, oh my god, what will they do! No one has ever seen anything like that.
US inflation reaches 9.1% in 2022
Uhh, well, it's because US citizens are paid too much! Our inflation is caused by US being so damn good at freedom!
The economy is too hot! It's going to blow! The economy is reaching the melting point! We have to cool down the economy or it's all over!
I hate economists so much
Libs are so credulous it's staggering sometimes.
I remember watching some WW2 documentary as a kid, and they were interviewing German civilians. One lady said that they all believed the news from the front and thought that the reports of every battle being a victory were true. It was only as the war dragged on and all the victories moved closer and closer to Berlin that people really started to realize.
All this to say, it blows my mind but I think a ton of libs today are worse off than this. Think of how many people you know who wouldn't believe it until the red flag was flying over the reichstag
Quickly! Someone fix those warp shields, the economy's hull is at 35% and dropping fast! Don't shoot those economy lasers too quickly or it's gonna overheat!
People learning real material economics again will be one of the best things to be achieved in socialism, they'll be looking back at "economists" of today like plague doctors perscribing you some random ass plant from the forest to cure your cancer
We're going to actually get to the point where medicine against cancer will eventually acknowledge the potency of naturally growing plants, because that's what humans used for thousands of years before the advent of pharmaceuticals.
But otherwise you're right. Mainstream economics is an exercise in ignorance, randomness, and vibes.
We're going to actually get to the point where cutlery will eventually acknowledge the potency of flaked stone knives, because that's what humans used for thousands of years before the advent of metallurgy.
Y'all. Morphine, heroin, opium, and nearly all opiates are from pretty flowers. Cocaine is from leafy greens. Quinine (malaria medicine) is from a tree. Penicillin is from moldy bread. Digoxin (a.k.a. digitalis a.k.a. Lanoxin) is from pretty flowers. Paclitaxel (a.k.a. chemotherapeutic Taxol) is from a tree.
You are being idealist when you imagine that all medicine is divorced from history and exists only in Euro-techno laboratories from non-earthly components.
I've heard these lectures before and am well-aware that not every treatment is a gamma knife, but the proponent of modern medicine is perfectly capable of acknowledging aspirin, since my criteria is if it works or not, rather than how near or far it is from nature. It's the primitivist who is forced into an untenable position by rejecting pharmaceuticals, because your primary criteria criteria is closeness to nature rather than efficacy, the latter only coinciding as a happy accident.
I never said closeness to nature was the standard. I said that the metaphor of "backwards magical thinking" being analogous to "plant-based medicine" is an ahistorical position. Before Dupont and Pfizer, there was herbalism, and it worked through the scientific method of experimentation and evidence gathering. Modern medicine is built on top of herbalism and even includes herbalism today, while simultaneously pushing the narrative that all previous medical interventions based on plants is to be ignored, derided, abolished, and forgotten. And the reality is that the reason they do this is for profit and white male Eurocentric social hegemony. We have so much more to learn from ancient medicine because European society deliberately ignored it, obfuscated it, distorted it, and tried to destroy it.
You mean that's what humans used for the thousands of years where humans had an average lifespan of like 25 years, right? The triumph of historical materialism isn't going to be a return to substituting evidence-based medicine for naturopathy and other "traditional" pseudoscientific hokum.
Y'all. Morphine, heroin, opium, and nearly all opiates are from pretty flowers. Cocaine is from leafy greens. Quinine (malaria medicine) is from a tree. Penicillin is from moldy bread. Digoxin (a.k.a. digitalis a.k.a. Lanoxin) is from pretty flowers. Paclitaxel (a.k.a. chemotherapeutic Taxol) is from a tree.
You are being idealist when you imagine that all medicine is divorced from history and exists only in Euro-techno laboratories from non-earthly components.
Seconded and there are many more.
Many synthetic pharmaceuticals are based on natural molecules extracted from plants and fungi. Some are further modified to change their properties, but we often learn what works from studying natural products.
Nature is just better at this shit than we are. We steal their ideas, modify them slightly, and patent them.
Those historically low average lifespans are often due to high infant mortality, not adults dying at a young age.
Inflation over 9%? Damn, Biden got them, too?
This honestly looks a lot like what happened in the US, but there's some key differences to consider. I have a friend that's been closely monitoring the Ruso-Ukrainian war from the outset (he is firmly pro-Russia in his outlook with regard to the war). He tells me that Russia is re-tooling its economy away from consumer goods and services towards raw materials, commodities, and manufacturing in a kind of economic levee en masse. Also, according to who you believe, a fuckton of working age Russian men have gotten killed or mangled as a result of the war, and while it's not at the levels that would precipitate catastrophe or some other extreme effect on Russian society, it probably is enough to create a noticable labor shortage, especially outside of Moscow and St. Pete, in towns that have fewer working age men to lose.
As for state spending, well, there's no two ways about it, war is fucking expensive. The war on terror has put the US, what, 20 trillion in the hole? It dizzies the mind to think what good that money could have done at home, and probably would have paid for itself in a decade or two, but it's basically been lit on fire and gone forever to murder people for ????. Re-tooling the economy won't be cheap either. I doubt much of that spending is going to be helping the average Russian much. Shit sucks, having just lived through stupid inflation here, I feel bad for them.
If anyone wants to be realy concerned about the Russian economy the only thing that matters is whether the Russian government and central bank fully embrace this mainstream economics garbage. That is the only concern but the good news is not just the war effort, but the future reconstruction of the liberated territories will give yet another boom to the local economies in a few years.
The neolibs currently in charge lucked themselves into a Chinese like public investment driven boom, if they realize this is what is happening and reject these stupid mainstream narratives they'll be fine in the future, if not at least in the short term there is not much they can do wrong.
